Actis, a global investor in sustainable infrastructure, has launched Leo Energies, a new renewable energy platform in India targeting a portfolio of more than 3 GW of onshore wind, solar and battery energy storage assets.
Leo Energies represents Actis’ fourth renewable energy platform in India, following Ostro Energy, Sprng Energy and BluPine Energy. BluPine Energy, launched in 2022, has grown to more than 3 GW of capacity.
The launch builds on Actis’ presence in India’s energy sector, where the firm said it has deployed approximately US$1.5 billion in equity capital and has built or operated nearly 10 GW of installed generation capacity.
As part of its initial portfolio development, Leo Energies has signed agreements to acquire approximately 650 MWp of operational solar capacity. Around 160 MWp of these transactions have already closed, including 110 MWp acquired from TrueRE Oriana Power, an Indian clean energy platform active across solar, battery energy storage and green fuels.
The approximately 650 MWp portfolio spans Rajasthan, Tamil Nadu, Gujarat, Karnataka and Andhra Pradesh. The projects are backed by long-term power purchase agreements with a combination of central offtakers, state distribution companies and commercial and industrial customers.
Actis said the acquisitions support Leo Energies’ strategy to build a scaled renewable generation platform across both the utility-scale and commercial and industrial (C&I) segments. The platform is also evaluating further acquisitions and greenfield opportunities through PPA auctions as part of its near-term development pipeline.
The launch comes as India continues to expand its renewable energy capacity, supported by rising electricity demand, corporate clean energy procurement and the country’s target of reaching 500 GW of non-fossil fuel capacity by 2030.
Lucy Heintz, Head of Energy Infrastructure at Actis, said the firm sees India as a significant energy market due to the combination of growing energy demand and the need for greater energy security. She added that Actis intends to apply its experience in building and operating renewable energy platforms to the development of Leo Energies.
Abhishek Bansal, Managing Director, Energy Infrastructure at Actis, said the new platform will follow the company’s established strategy of developing contracted independent power producers in India. He highlighted auction-led renewable growth, the expanding C&I market, domestic financing availability and an established strategic buyer ecosystem as factors supporting the platform’s growth.
Through Leo Energies, Actis plans to expand its renewable energy investments in India across solar, onshore wind and battery storage, combining acquisitions of operating assets with new project development opportunities.
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